Press release
Commercial Seaweed Market Research With Size, Growth, Key Players, Segments And Forecast To 2033
Commercial Seaweed Market
The Business Research Company offers in-depth market insights through Commercial Seaweed Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The commercial seaweed market size has grown rapidly in recent years. It will grow from $19.42 billion in 2023 to $21.88 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to demand in food industry, increased cosmetic and personal care applications, biofuel production, increased textile industry, carrageenan production.
The commercial seaweed market size is expected to see rapid growth in the next few years. It will grow to $34.79 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to sustainable agriculture practices, functional food ingredients, climate change resilience, expansion of seaweed farms, mariculture practices, government support. Major trends in the forecast period include seaweed-based biostimulants, innovation in seaweed-based food products, seaweed-based packaging materials, collaborations for sustainable seaweed sourcing, carbon sequestration.
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Market Segmentation:
The commercial seaweed market covered in this report is segmented -
1) By Product: Brown Seaweeds, Red Seaweeds, Green Seaweeds
2) By Type: Liquid, Powdered, Flakes
3) By End User: Food and Beverages, Agricultural Products, Animal Feed Additives, Pharmaceuticals, Other End Users
Major Driver - Surging Demand For Plant-Based Products Fueling Growth In The Commercial Seaweed Market
The increasing consumption of plant-based products will propel the growth of the commercial seaweed market going forward. Plant-based food refers to a finished product consisting of ingredients derived from plants that include vegetables, fruits, and whole grains. Commercial seaweed is used in the manufacture of plant-based foods. These seaweeds help to increase protein content in plant-based products. For instance, in 2023, according to the Good Food Institute, a US-based non-profit organization, the U.S. retail market for plant-based foods reached a value of $8 billion in 2022, reflecting a 7% increase in dollar sales compared to the previous year. Therefore, increasing consumer consumption of plant-based products is driving the commercial seaweed market growth.
Competitive Landscape:
Major companies operating in the commercial seaweed market report are Cargill Inc., E.I. du Pont de Nemours Inc., CP Kelco U.S. Inc., BrandT Consolidated Inc., Acadian Seaplants Limited, Gelymar SA, Extractos Naturales Gelymar S.A., Seasol International, Indigrow Ltd., Ocean Harvest Technology Limited, AquAgri Processing Pvt. Ltd., West Coast Marine Bio-Processing Corp., The Seaweed Company B.V., Pacific Harvest, The Irish Seaweed Company, AtSeaNova, Seaweed Solutions AS, Shore Seaweed Co., Dalian Ocean University Seaweed Industry Group, Algaia SA, Rhodomaxx Sdn. Bhd., Qingdao Gather Great Ocean Industry Group (GGOG), Kelp Industries PTY. Ltd., Nantong Xinlang Seaweed & Foods Co. Ltd., Mara Seaweed Ltd., Leili Group, Dycolor Seaweed Industries, Shandong Qingdao Lihua Seaweed Industry Group Co. Ltd., Travena Organic Solutions Ltd.
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Top Trend - Embracing A Health Revolution With Seaweed-Powered Innovations In Nutraceuticals
Major companies operating in the commercial seaweed market are increasing their focus on introducing innovative solutions, such as nutraceuticals, to gain a competitive edge in the market. A nutraceutical is a food or food product that provides health benefits beyond basic nutrition. For instance, in December 2022, the Central Marine Fisheries Research Institute (CMFRI), an India-based research institute, developed LivCure extract. This seaweed-based product is used to combat non-alcoholic fatty liver disease (NAFLD). LivCure extract comprises 100% natural bioactive ingredients extracted from specific seaweeds using green technology. It is designed to enhance liver health and is considered an eco-friendly remedy for NAFLD. The creation of this natural remedy from seaweed is a significant step in addressing fatty liver disease. It offers a potential alternative for managing this health condition.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Commercial Seaweed Market Characteristics
3. Commercial Seaweed Market Trends And Strategies
4. Commercial Seaweed Market - Macro Economic Scenario
5. Commercial Seaweed Market Size And Growth
…..
27. Commercial Seaweed Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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